Have you been to the bank recently to open an account, tried to clear goods imported by you or tried to conduct business with a government agency and been asked for your TIN?
What is TIN? TIN is an acronym for Tax Identification Number. It is an exclusive number issued to an individual or company identifying them as duly registered taxpayers in Nigeria to be used by that tax payer only. Everyone who is required to pay tax in Nigeria ought to have a TIN. The acquisition of a TIN has immense benefits for the taxpayer. It enables the stakeholders in the tax system to have a national database of taxpayers; empowers the taxpayer to easily access his tax information and obligations and serves to reduce incidences of double or multiple taxation.
The TIN serves as a pre-requisite to the following:
- Granting of import and export license;
- Award of government contracts;
- Applying and obtaining a Tax Clearance Certificate (TCC) from the tax authorities;
- Opening of a corporate account and carrying out regulated bank transactions;
The process for obtaining a TIN is contained in these simple steps:
- Visit the tax office closest to you and obtain the application forms.
- Return the completed forms to the tax office with any of the following valid (current) identification documents such as:
- (For an Individual/Person whose business is not registered with the Corporate Affairs Commission)
- International Passport;
- National Identity Card;
- Staff Identity Card (employed person);
- National Driver’s Licence.
- (For a Company, Enterprise or Business registered with the Corporate Affairs Commission)
- Either Certificate of Incorporation (for a Company) or Business Name Registration Certificate (for an Enterprise & Business) showing the Registration Number in each case.
- Documents containing the following information:
- Address of company, enterprise or business;
- Principal location of business;
- Date of commencement of business:
- Application letter to the Tax Comptroller on the Company’s letter head
The following should be noted when filling out the form:
- All information marked * on the application form MUST be provided;
- The characters of the NAME i.e. all letters and symbols constituting the name and the ADDRESS also MUST NOT exceed two hundred (200) characters respectively;
- Mobile Telephone Number MUST be eleven (11) digits.
- Necessary biometric information such as fingerprints and
facialphoto would be obtained.
- Upon completion of the exercise, the tax
identification numberwill be issued to you free of charge.